Indian markets trade higher, SBI takes lead

Indian equity indices are trading positive with Sensex soaring nearly 274 points or 0.99% to 27,987.32, and Nifty surging by 92.80 points or 1.09% to 8643.90.

On 30-share benchmark, among the top gainers were State Bank of India at Rs 232.35 (3.10%), Axis Bank at Rs 562 (2.99%), Hero Motocorp at Rs 3364.90 (2.90%), Bajaj Auto at Rs 2814 (2.71%) and ICICI Bank at Rs 246.95 (2.62%). 

Also, the banking sector was in lead with 305.25 points up on BSE.

Indian Rupee opened higher by 6 paise at 66.85 per dollar as compared to previous close 66.91.

On Friday, the Asian shares followed global stock markets higher after the Bank of England launched a larger-than-expected post-Brexit stimulus package that sent the British pound tumbling. 

The British pound crawled up 0.2% to $1.3130 after retreating 1.7% overnight.